Placing a trailing stop order

Trailing Stop orders allow traders to protect gains by enabling a position to remain open and continue to profit as long as the price is moving in their favor.

A Trailing Stop order is a modification of a Standard-Stop Market Order. The stop price on a trailing stop is determined by the trailing percent. If the index price moves in favor of your position, the stop price will update to trail the index price based on your trailing percent. For a long position, a trader places a trailing stop loss below the current market price. For a short position, a trader places the trailing stop above the current market price. If the index price drops/rises by more than the trailing percent from its maximum/minimum value while your position is open, your order will trigger and will be immediately placed as a market order to the order book.

Note: Trailing stop orders execute as market orders when they are triggered meaning they can execute at any price, including even a worse price than what they are triggered at. If there is not enough liquidity to fill your order, it will be canceled.

Placing a trailing stop order

To place a trailing stop order:

1. Click Trailing Stop under the Stop dropdown menu.

2. Click Buy or Sell.

3. Type an Amount - this is the total trade size.

4. Type the desired stop trailing percent.

5. Review your order summary to confirm your selections.

6. Click Place Order to execute your order.

Advanced stop order options

You can edit your Good Til Time under the advanced section in the trade box.

Can you explain how the stop price and index price are connected?

The index price utilized to activate stop orders is a composite price that takes into account several exchanges. As an off-chain price, it updates much faster to guarantee precise stop order activation. This is particularly crucial during times of sudden market volatility.

Can I have multiple stop orders in the same market or position?

Yes, you can have multiple stop orders for the same market or position, and they can be conveniently managed and canceled from the Orders tab.

Note: Stop orders trigger based off the index price or the last trade price.